1time files for Business Rescue protection

Victoria
By Victoria August 22, 2012 14:22

1time files for Business Rescue protection

Low-cost airline 1Time has filed for business rescue in order to give it time to restructure its R320-million of debt. The airline has been in negotiations with creditors since March. In April, the company reported a R157-million loss.

1Time chief executive Blacky Komani confirmed that the airline would continue scheduled services.

Victoria
By Victoria August 22, 2012 14:22
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